Sirius XM reported second-quarter earnings of $0.70 per share versus a $0.78 consensus estimate and $0.57 a year earlier, after earlier analyst Buy and upgrade calls ahead of results.
Sirius XM Holdings reported second-quarter earnings of $0.70 per share, missing the $0.78 consensus estimate that Benchmark had highlighted before the release, but improving from $0.57 in the same period a year earlier. Before the results, Benchmark had reiterated a Buy rating and analysts projected $2.14 billion in revenue, while Wells Fargo had also upgraded the stock. After the report, UBS set a $36 price target, implying 16.35% upside from $30.94, leaving investors weighing year-over-year earnings improvement against the miss versus Wall Street expectations.